Crown Castle (CCI) | Financial Analysis & Statements
Crown Castle Inc. Large-cap Real Estate
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.1B
Gross Profit
791.0M
73.86%
Operating Income
527.0M
49.21%
Net Income
294.0M
27.45%
EPS (Diluted)
$0.67
Balance Sheet Metrics
Total Assets
31.5B
Total Liabilities
33.2B
Shareholders Equity
-1.6B
Cash Flow Metrics
Operating Cash Flow
503.0M
Free Cash Flow
811.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Crown Castle Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 4.3B | 6.6B | 7.0B | 7.0B | 6.3B |
| Cost of Goods Sold | 1.1B | 1.8B | 2.0B | 2.1B | 2.0B |
| Gross Profit | 3.2B | 4.7B | 5.0B | 4.9B | 4.3B |
| Gross Margin % | 74.1% | 71.9% | 71.6% | 70.4% | 68.6% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 383.0M | 706.0M | 759.0M | 750.0M | 680.0M |
| Other Operating Expenses | - | - | - | 28.0M | 145.0M |
| Total Operating Expenses | 383.0M | 706.0M | 759.0M | 778.0M | 825.0M |
| Operating Income | 2.1B | 2.3B | 2.5B | 2.4B | 1.9B |
| Operating Margin % | 48.9% | 34.7% | 35.6% | 34.8% | 29.6% |
| Non-Operating Items | |||||
| Interest Income | 13.0M | 19.0M | 15.0M | 3.0M | 1.0M |
| Interest Expense | 941.0M | 900.0M | 821.0M | 673.0M | 632.0M |
| Other Non-Operating Income | -8.0M | -5.2B | -125.0M | -46.0M | -43.0M |
| Pre-tax Income | 1.1B | -3.9B | 1.5B | 1.7B | 1.2B |
| Income Tax | 16.0M | 24.0M | 26.0M | 16.0M | 21.0M |
| Effective Tax Rate % | 1.4% | 0.0% | 1.7% | 0.9% | 1.8% |
| Net Income | 444.0M | -3.9B | 1.5B | 1.7B | 1.1B |
| Net Margin % | 10.4% | -59.4% | 21.5% | 24.0% | 17.3% |
| Key Metrics | |||||
| EBITDA | 2.8B | 4.0B | 4.2B | 4.1B | 3.5B |
| EPS (Basic) | $1.02 | $-8.98 | $3.46 | $3.87 | $2.54 |
| EPS (Diluted) | $1.01 | $-8.98 | $3.46 | $3.86 | $2.53 |
| Basic Shares Outstanding | 435000000 | 434000000 | 434000000 | 433000000 | 432000000 |
| Diluted Shares Outstanding | 435000000 | 434000000 | 434000000 | 433000000 | 432000000 |
Income Statement Trend
Join Our United States Telegram Channel
Get Instant Market Updates: 52-Week High/Low Alerts, Breakout Notifications & Expert Stock Analysis Delivered To Your Phone. Join Traders Making Informed Decisions Daily!
Crown Castle Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 99.0M | 119.0M | 105.0M | 156.0M | 292.0M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 339.0M | 654.0M | 597.0M | 720.0M | 635.0M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 23.0M | 40.0M | 56.0M | 73.0M | 53.0M |
| Total Current Assets | 1.1B | 1.1B | 1.0B | 1.2B | 1.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 19.1B | 33.0B | 31.7B | 30.9B | 30.0B |
| Goodwill | 11.1B | 13.0B | 23.3B | 23.8B | 24.2B |
| Intangible Assets | 861.0M | 2.8B | 3.2B | 3.6B | 4.0B |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 12.6B | 2.4B | 2.4B | 2.1B | 1.7B |
| Total Non-Current Assets | 30.4B | 31.6B | 37.5B | 37.7B | 37.8B |
| Total Assets | 31.5B | 32.7B | 38.5B | 38.9B | 39.0B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 71.0M | 192.0M | 252.0M | 236.0M | 246.0M |
| Short-term Debt | 3.1B | 906.0M | 1.2B | 1.2B | 421.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 762.0M | - | - | - | - |
| Total Current Liabilities | 4.5B | 2.2B | 2.6B | 2.7B | 2.0B |
| Non-Current Liabilities | |||||
| Long-term Debt | 26.5B | 28.7B | 27.6B | 26.8B | 26.6B |
| Deferred Tax Liabilities | 31.0M | 31.0M | 26.0M | 18.0M | 14.0M |
| Other Non-Current Liabilities | 9.0M | 29.0M | 7.0M | 7.0M | 6.0M |
| Total Non-Current Liabilities | 28.7B | 30.7B | 29.6B | 28.7B | 28.8B |
| Total Liabilities | 33.2B | 32.9B | 32.1B | 31.5B | 30.8B |
| Equity | |||||
| Common Stock | 4.0M | 4.0M | 4.0M | 4.0M | 4.0M |
| Retained Earnings | -20.2B | -18.5B | -11.9B | -10.7B | -9.8B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | -1.6B | -133.0M | 6.4B | 7.4B | 8.3B |
| Key Metrics | |||||
| Total Debt | 29.6B | 29.6B | 28.8B | 28.0B | 27.0B |
| Working Capital | -3.3B | -1.1B | -1.6B | -1.5B | -772.0M |
Balance Sheet Composition
Crown Castle Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -472.0M | -3.9B | 1.5B | 1.7B | 1.2B |
| Depreciation & Amortization | 690.0M | 1.7B | 1.8B | 1.7B | 1.6B |
| Stock-Based Compensation | 73.0M | 131.0M | 157.0M | 156.0M | 129.0M |
| Working Capital Changes | -24.0M | -225.0M | -407.0M | -747.0M | -329.0M |
| Operating Cash Flow | 1.9B | -2.2B | 3.1B | 2.8B | 2.6B |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | 0 | -8.0M | -96.0M | -35.0M | -111.0M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | 4.0M | 2.0M | -95.0M | -42.0M | -103.0M |
| Financing Activities | |||||
| Share Repurchases | -23.0M | -33.0M | -30.0M | -65.0M | -70.0M |
| Dividends Paid | -2.1B | -2.7B | -2.7B | -2.6B | -2.4B |
| Debt Issuance | 1.2B | 1.2B | 7.5B | 5.2B | 5.2B |
| Debt Repayment | -1.6B | -1.5B | -6.3B | -4.2B | -4.1B |
| Financing Cash Flow | -1.9B | -1.7B | -1.7B | -1.7B | -1.3B |
| Free Cash Flow | 2.9B | 1.7B | 1.7B | 1.6B | 1.5B |
| Net Change in Cash | -12.0M | -3.9B | 1.3B | 1.1B | 1.2B |
Cash Flow Trend
Crown Castle Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
33.70
Forward P/E
28.96
Price to Book
-23.28
Price to Sales
8.69
PEG Ratio
-0.32
Profitability Ratios
Profit Margin
10.41%
Operating Margin
49.21%
Return on Equity
-27.16%
Return on Assets
4.06%
Financial Health
Current Ratio
0.26
Debt to Equity
-18.08
Beta
0.96
Per Share Data
EPS (TTM)
$2.52
Book Value per Share
$-3.76
Revenue per Share
$9.80
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| CCI | 38.2B | 33.70 | -23.28 | -27.16% | 10.41% | -18.08 |
| Equinix | 109.3B | 81.29 | 7.74 | 9.72% | 14.58% | 160.29 |
| American Tower | 83.5B | 32.36 | 22.31 | 26.28% | 23.76% | 434.21 |
| Digital Realty | 71.0B | 52.91 | 3.10 | 5.69% | 21.82% | 75.66 |
| Iron Mountain | 34.5B | 236.98 | -53.30 | -22.42% | 2.10% | -29.65 |
| SBA Communications | 23.3B | 22.37 | -4.89 | -22.06% | 37.43% | -3.21 |
Financial data is updated regularly. All figures are in the company's reporting currency.






